Legal
Coinbase Urges Court to Force SEC’s Hand on Digital Asset Rules
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Cryptocurrency exchange Coinbase Global Inc. urged a federal appeals court to force the US Securities and Exchange Commission to create new rules that would govern digital assets and help end a long legal fight between the industry and regulators.
A lawyer for Coinbase, Eugene Scalia, told a three-judge panel Monday in Philadelphia that the SEC has provided “zero explanation” for denying the exchange’s request last year for rules that would clarify standards for determining when digital assets are securities. The exchange filed a lawsuit in December at the US Court of Appeals for the Third Circuit.